News

PRESTARIANG BERHAD (“Prestariang” or “the Company”) – Extension of contract with the Ministry of Education (“MOE”) for the distribution and management of Microsoft software licenses to public higher education institutions in Malaysia by the wholly-owned subsidiary of Prestariang, Prestariang Systems Sdn Bhd (“PSSB”) under the “Managing University Software as an Enterprise” (“MUSE”) programme

1. INTRODUCTION

Reference is made to the Company's announcement dated 23 August 2011 (reference number CS-110823-84404), wherein the Company’s wholly-owned subsidiary, PSSB had entered into an agreement with the Government, represented by the Ministry of Higher Education (“MOHE”) for the supply of licensed software and related value-add services consisting of Microsoft Software & Services to all public institutes of higher learning including universities, polytechnics and community colleges in Malaysia under the MUSE programme (“the said Contract”).

The Board of Directors of Prestariang is pleased to announce that PSSB had received a Letter of Award dated 25 June 2015 from the MOE for extension of the said Contract for a period of two (2) years commencing from 3 July 2015 until 2 July 2017 at a total value of RM20,000,000/- (“the Extension of Contract”).

2. FINANCIAL EFFECTS

The Extension of Contract  is expected to contribute positively to the future earnings, net assets per share and gearing of Prestariang Group.  The Extension of Contract will not have any effect on the share capital and substantial shareholders’ shareholding of Prestariang.

3. DIRECTORS' AND/OR SUBSTANTIAL SHAREHOLDERS' INTEREST

None of the Directors and/or substantial shareholders or any person connected to the Directors and/or substantial shareholders of Prestariang has any interest, either direct or indirect in the above Extension of Contract.

4. DIRECTORS' STATEMENT

The Board of Directors of Prestariang is of the opinion that the Extension of Contract is in the ordinary course of business and is in the best interests of the Company.

This announcement is dated 26 June 2015.